Nonparametric search

Oligopolistic Competition and Search Without Priors

“…This estimation procedure is consistent and asymptotically efficient (Chou and Talmain, 1993). This estimation procedure is consistent and asymptotically efficient (Chou and Talmain, 1993).…”

“…In fact, I adapt the analysis of Chou and Talmain (1993) to my set-up. In fact, I adapt the analysis of Chou and Talmain (1993) to my set-up.…”

“…Maximisation of the Shannon entropy leads to a quantile-preserving estimation procedure, which is described, in Chou and Talmain (1993), for example. Suppose the prices in the sample (p 1 ,.…”

“…The latter article has a similar set-up to my study, but with two important differences: the search protocol is not sequential (there is a 'newspaper search'uninformed consumers ask the informed for the information) and the consumers are Bayesian. In contrast, my approach follows Chou and Talmain (1993) and does not require any priors (e.g. The article that most closely resembles this one is Janssen et al (2011).…”

“…These two drawbacks are applicable to all the aforementioned articles. In contrast, my approach follows Chou and Talmain (1993) and does not require any priors (e.g. about the production costs, or the fraction of informed consumers), except that the consumers know the boundaries of the support of the distribution.…”